U.S. stocks plummeted on Wednesday as Treasury yields surged amid concerns over the potential increase in U.S. government debt due to President Trump’s proposed tax-cut bill. All major Wall Street indexes experienced their largest daily losses in a month, with small-cap stocks also suffering significant declines.
US stocks today: S&P 500, Nasdaq end higher, notch weekly gains after earnings-heavy week
The S&P 500 and Nasdaq reached record highs, fueled by strong earnings and falling crude prices, marking their longest weekly gain streak since October 2024.